Ft. Lauderdale -- June 11, 2001 -- Silicon Valley Bank (the "Bank"), a wholly owned subsidiary of Silicon Valley Bancshares, announced its establishment of a financing relationship with Ft. Lauderdale-based Dialtone Internet Inc. Dialtone Internet is a provider of managed Linux-based dedicated hosting and co-location value-added services.
"The Silicon Valley Bank financing relationship adds momentum to the ongoing growth and development of Dialtone Internet," said Alvaro Albarracin, chief executive officer of Dialtone Internet. "This further enables Dialtone Internet to continue developing a robust, scalable infrastructure that provides our customers with high availability services for applications that require the highest possible server performance. Having recently received additional investments from Crossbow Ventures only shows the continued support from the investment community to our business model."
"We are pleased to be associated with an emerging technology company such as Dialtone," said Jeff White, manager of Silicon Valley Bank's West Palm Beach, Florida office. "Al Albarracin has done an excellent job building the business and driving growth. He has a solid team around him, a strong growth rate, a top investor in Crossbow Ventures and positive cash flow. In this market environment, there aren't many companies containing all of these elements."
About Dialtone Internet Inc.
Headquartered in Fort Lauderdale, five miles north of Miami, Florida, Dialtone Internet is a leading provider of Linux Dedicated Servers and Colocation solutions. Dialtone Internet assembles, provides and supports a network of Internet Servers, E-Commerce and Application hosting Systems in its state-of-the-art data center. Dialtone Internet's dedicated and colocated servers, email and connectivity services empower entrepreneurs, web developers, resellers, virtual ISP's and businesses worldwide, and allows them to benefit from cutting edge technologies at aggressive prices. Dialtone Internet uses only top quality hardware and software, including Intel Processors, Red Hat Linux, IBM SCSI Drives, IBM servers and Cobalt Networks RaQs. www.dialtoneinternet.com.
About Silicon Valley Bank
Silicon Valley Bank serves emerging growth and middle market companies in targeted niches, focusing on technology and life sciences, while also addressing other specific industries in which it can provide a higher level of service and better manage credit through specialization and focus.
The Bank operates throughout the Silicon Valley: Santa Clara, Palo Alto and Sand Hill, the center of the venture capital community in California. Other regional offices within California include: Irvine, Los Angeles, Napa Valley, San Diego, San Francisco, Santa Barbara, and Sonoma. Office locations outside of California include: Phoenix, Arizona; Boulder, Colorado; West Palm Beach, Florida; Atlanta, Georgia; Chicago, Illinois; Boston, Massachusetts; Minneapolis, Minnesota; Durham, North Carolina; Portland, Oregon; Philadelphia, Pennsylvania; Austin, Texas; Dallas, Texas; Northern Virginia; and Seattle, Washington. More information on the Bank can be found at www.svb.com.
SVB Contact: Andrea McGhee, (408) 654-3078, amcghee@svbank.com.